Supply

Global liquefied natural gas (LNG) buyers clearly have the upper hand as even more supply is slated to enter a glutted market in the coming years. As smaller countries enter the LNG-consuming ranks, sellers will need to accommodate their particular needs while adapting to new demands from their traditional clientele.

The United States last year reinforced its position as the world’s largest natural gas and oil producer, “but don’t be fooled” by the comparative resilience because the sharp pullback in investments may foretell reserves shortfalls within a few years, BP plc’s chief economist said Wednesday.

Two utilities that supply natural gas in New Jersey will slash their rates to residential customers, thanks to an abundant supply of gas from the nearby Marcellus Shale, they said Wednesday.

On Tuesday FERC granted a hearing for an ANR Pipeline Co. rate case reflecting “a substantial increase” in the pipeline’s cost of service. The Commission also will consider a “preferred case,” proposed by ANR, which would cut its rate structure from seven to four zones. Judging by filings in the docket so far, there will be plenty to talk about.

Exports of liquefied natural gas (LNG) from the United States, and also Australia, are giving the global gas market something it hasn’t had before: competitive supply that is not under the thumb of governments or national oil companies, a Cheniere Energy Inc. executive said Thursday in Washington, DC.

Exports of liquefied natural gas (LNG) from the United States, and also Australia, are giving the global gas market something it hasn’t had before: competitive supply that is not under the thumb of governments or national oil companies, a Cheniere Energy Inc. executive said Thursday in Washington, DC.

The global oil market faces a supply shortfall of 4.5 million b/d by 2035 if exploration success — and investments — aren’t stepped up, Wood Mackenzie researchers are forecasting.

The global oil market faces a supply shortfall of 4.5 million b/d by 2035 if exploration success — and investments — aren’t stepped up, Wood Mackenzie researchers are forecasting.

May natural gas is expected to open 5 cents lower Friday morning at $1.92 as supply concerns dwarf any issues of reduced production, summer warmth and other factors working to rebalance the market. Overnight oil markets plunged ahead of a weekend OPEC meeting.